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Old 12-27-2016, 05:26 PM
 
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Does it matter if you buy your car on 12/31 or on January 1, when it comes to personal property taxes?
IF you buy on 1/1, do you somehow end up paying less?
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Old 12-27-2016, 05:49 PM
 
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no
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Old 12-27-2016, 05:56 PM
 
Location: Roanoke, VA
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It depends on whether the county involved prorates personal property tax. Per the Isle of Wight County website, approximately 50 localities in Virginia prorate personal property taxes on motor vehicles. If the county does not prorate, I believe the tax is usually based on the vehicle's "situs" per its registration on Jan. 1.
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Old 12-27-2016, 06:18 PM
 
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Quote:
Originally Posted by TN Lily View Post
It depends on whether the county involved prorates personal property tax. Per the Isle of Wight County website, approximately 50 localities in Virginia prorate personal property taxes on motor vehicles. If the county does not prorate, I believe the tax is usually based on the vehicle's "situs" per its registration on Jan. 1.
do you know about loudoun county?
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Old 12-27-2016, 09:08 PM
 
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I don't know what the above person is talking about. All the NOVA counties prorate by month with more than half a month counting as a full month and less counts as nothing.

If you bought the car in December say 12/15 or earlier you would owe one month's car tax (and nothing that month if 16-31). You are asking about Dec 31st, so to answer the question again, no.

https://www.loudoun.gov/FAQ.aspx?TID=69
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Old 12-27-2016, 09:15 PM
 
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Quote:
Originally Posted by boyd888 View Post
I don't know what the above person is talking about. All the NOVA counties prorate by month with more than half a month counting as a full month and less counts as nothing.

If you bought the car in December say 12/15 or earlier you would owe one month's car tax (and nothing that month if 16-31). You are asking about Dec 31st, so to answer the question again, no.

https://www.loudoun.gov/FAQ.aspx?TID=69
I see. thank you!
i've heard of some places (don't recall exactly where).....where depending on the calendar year you bought in, you might end up not paying any tax for almost a year! honestly though, not sure if what he was saying is true.....

sounds like in the above case i noted originally, there's no difference between a 12/31 and 1/1 purchase.
thanks again!
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Old 12-28-2016, 05:45 AM
 
Location: Roanoke, VA
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In counties that prorate, there is no significant difference in buying on 12/31 versus 1/2. However, there are counties in Virginia where this makes a difference. If the county/city taxes based on what you own on Jan. 1, you save a year's worth of PP tax by buying on Jan. 2.
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Old 12-28-2016, 09:55 AM
 
4,196 posts, read 6,294,452 times
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Quote:
Originally Posted by TN Lily View Post
In counties that prorate, there is no significant difference in buying on 12/31 versus 1/2. However, there are counties in Virginia where this makes a difference. If the county/city taxes based on what you own on Jan. 1, you save a year's worth of PP tax by buying on Jan. 2.
yeah, loudoun county definitely prorates.
I sold a car on oct 25th and they returned 2 months of paid personal property tax to me (for November and December)
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